Marketers realize the landscape is changing but are they responding in the right ways to improve relationships with customers? According to a recent 1204146_rainbow_in_handsurvey of 1to1 Media subscribers, “there is a disconnect between theory and practice.” The whitepaper issued by Peppers & Rogers Group on this topic considers the disconnect as it analyzes what marketers need to do differently to improve customer relationships.

Analysts point out that client relationships are top of mind for many firms. For example, findings indicate,

  • Marketers understand the need to build long-term client relationships: 88%
  • Marketers spend a significant portion of budget on retaining clients: 24%

But the era of social media is changing the way marketers should build their relationship marketing programs. Peppers & Rogers analysts highlight the following new realities in the relationship marketing environment:

Marketing Message: Previously controlled by brand promise but now controlled by customer advocates and critics

Marketing Tactics: Previously viable for an entire campaign and now viable for as long as customer feedback is positive

Execution of Brand Promise: Depends on company’s reputation for trustworthiness

Company Reputation: Depends on customers who access more information and form their own opinions. Reputation is no longer necessarily connected to effective marketing campaigns

As marketers deal with the empowered consumer, look for them to improve their relationship marketing programs as follows:

Integrated: Consumers will be able to connect with marketers through several online channels including email, Web sites, and social media sites and while each channel may offer a difference experience, the brand promise will remain consistent.

Flexible: The best marketers will quickly respond to consumer concerns and complaints. These interactions are visible to all who want to see them and, done properly, can build the marketers’ reputation for truly caring about its clients.

[Source: Relationship Marketing Outlook,  Peppers & Rogers Group whitepaper 9.24.09]

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  • Filed under: Forecasts: Brand Marketing
  • Dig A Little Deeper

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    Do your client relationships need a boost? Consultant Mike Hunter has an easy strategy to add more depth to your relationships, and it’s one that can be put into action right away. On his blog, Hunter challenges salespeople to learn something new about a client with each communication. He’s not referring to information that anyone can come across, but rather more personal knowledge about the client, which can bolster both a professional and personal relationship. “This is information that is not known publicly, and when known, gives you a much greater chance of having a profitable relationship with them [the customer],” he writes. ” On numerous occasions, I’ve found that the level of profitability a salesperson is able to obtain with a customer is in direct relationship with the level of information known about them.”

    Remember though, avoid coming across as nosy and invasive. Instead, inquire about anything from his favorite vacation spot to how she chose her profession. As Hunter suggests, the more that you can learn about a client, the stronger your ability to meet their needs and expectations. As Hunter suggests, the more that you can learn about clients, the stronger your ability to meet their needs and expectations.

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  • Filed under: Forecasts: Digital Marketing
  • An Acronym to Sell By

    LOL. BRB. ROTFL. Among many others, these acronyms have crept into our daily lexicon. I recently came across a blog post by Dave Brock, a sales consultant, who introduced me to a very important acronym in the sales industry: WIIFM. I wasn’t familiar with that particular acronym, but I instantly recognized the familiar phrase “What’s In It For Me?” In his short, but to-the-point post, Brock writes that many salespeople get stuck in a rut by applying the WIIFM mantra to themselves, rather than focusing on the client or prospect.

    “While every sales person is driven by accomplishing their [sic] goals, making the number, we can only achieve success by focusing on our customer,” he writes. “Only when we truly ask the question “What’s In It For Them” can we know what the customer values and how we can fulfill their requirements.”

    Brock does a great job of reminding readers that the true point of this go-to phrase can get lost in one’s drive to reach a sales goal or close a deal. By refocusing on what is best for clients and prospects, the salesperson can better address their needs, and thus accomplish his or her own goals in the long run.

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  • Filed under: Other
  • Show Your Clients the Love

    While you may be spending February 14th showing your significant other how much you love and appreciate him or her, have you taken the time to show your feelings of appreciation to your clients? Apart from the annual holiday card, it’s important to let your clients know how valuable they are to you and thank them for their business. While you may not necessarily be sending them a dozen roses, a simple thank you can be a great way to express your gratitude. Andrea R. Nierenberg, president of The Nierenberg Group, writes about the importance of thanking clients in her article “Eight Key Ways to Say “Thank You” to Customers.” She gives some great examples of when to extend thanks to a client, which range from an obvious situation (a client compliments you) to times when you might not think to say thanks (your pitch for a new service or account is rejected). Also, Nierenberg offers a fantastic suggestion at the end of her article:

    “Every day take 15 minutes at the beginning or end of the day and write three short goodwill notes: one to a prospect, one to a client and one to a friend. Just say “Hi,” send an article, or say thanks-just make it specific. When you do this, at the end of the week you’ll have made 15 goodwill contacts, and at the end of the year, 750. Think of the “business seeds” you’ll have planted. Some of this could germinate into additional business.”

    By writing these notes, not only are you keeping your name and your agency fresh in others’ minds, but you are also reinforcing professional and personal ties, which can do nothing but benefit your business in the future. Check out the entirety of Nierenberg’s article here.

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  • Filed under: Other
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